Libya’s largest oil field Sharara restarted production this weekend, after the 300,000 b\/d site was shut-in for almost five months due to an oil blockade, stateowned National Oil Corporation said June 7. <\/p>\n\n\n\n
Libyan production of 400,000 b\/d could be online soon as the 75,000 b\/d El Feel oil field is also likely to open soon, sources said. <\/p>\n\n\n\n
NOC said the Sharara field restarted on June 6 beginning at a capacity of 30,000 b\/d.<\/p>\n\n\n\n
“Production at the field is expected to return to full capacity within 90 days due to the damages resulted by the very long shutdown,” NOC said in a statement.<\/p>\n\n\n\n
S&P Global Platts, a provider of energy and commodities information and a source of benchmark price assessments in the physical commodity markets stated that a key pipeline valves which connect the Sharara and El Feel fields with the Zawiya export terminal and refinery reopened on June 5, paving the way for a resumption of crude output.<\/p>\n\n\n\n
The restart occurred just as the OPEC+ alliance agreed to extend 9.6 million b\/d of production cuts to July, brushing aside Mexico’s defection from the pact and receiving pledges of improved compliance from Iraq, Nigeria, Angola and Kazakhstan<\/p>\n\n\n\n
Libya is currently exempted from the historic cuts, and any new production could complicate efforts by the 23-member coalition to rebalance the market.<\/p>\n\n\n\n
Libyan crude production was around 70,000-80,000 b\/d until a few days ago, less than a tenth of what it was producing before Jan.18 when the LNA orchestrated an oil port blockade. Output was the lowest level since September 2011, when a civil war tore the country apart and led to the downfall of Colonel Moammar Qadhafi.<\/p>\n\n\n\n
There is also a concern that GNA’s move eastwards, especially toward the eastern oil crescent where the key oil terminals are located, could pave the way for more conflict and instability.
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Libya’s largest oil field Sharara restarted production this weekend, after the 300,000 b\/d site was shut-in for almost five months due to an oil blockade, stateowned National Oil Corporation said June 7. Libyan production of 400,000 b\/d could be online soon as the 75,000 b\/d El Feel oil field is also likely to open soon, […]<\/p>\n","protected":false},"author":1,"featured_media":37029,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9271],"tags":[10180],"class_list":["post-32122","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-libyaoiloil-productionopec"],"_links":{"self":[{"href":"https:\/\/tabadul.tv\/en\/wp-json\/wp\/v2\/posts\/32122","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tabadul.tv\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tabadul.tv\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tabadul.tv\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tabadul.tv\/en\/wp-json\/wp\/v2\/comments?post=32122"}],"version-history":[{"count":0,"href":"https:\/\/tabadul.tv\/en\/wp-json\/wp\/v2\/posts\/32122\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tabadul.tv\/en\/wp-json\/wp\/v2\/media\/37029"}],"wp:attachment":[{"href":"https:\/\/tabadul.tv\/en\/wp-json\/wp\/v2\/media?parent=32122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tabadul.tv\/en\/wp-json\/wp\/v2\/categories?post=32122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tabadul.tv\/en\/wp-json\/wp\/v2\/tags?post=32122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}